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Equities researchers at RBC Capital boosted their target price on shares of BlackBerry (NASDAQ:BBRY) from $5.00 to $6.00 in a research report issued on Friday, American Banking and Market News reports. The firm currently has an “underperform” rating on the stock. RBC Capital’s price target indicates a potential downside of 31.19% from the stock’s previous close. The analysts noted that the move was a valuation call.

BBRY has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets reiterated an “underperform” rating on shares of BlackBerry in a research note to investors on Monday, December 23rd. Separately, analysts at Bank of America Corp. reiterated an “underperform” rating on shares of BlackBerry in a research note to investors on Monday, December 23rd. They now have a $7.22 price target on the stock, up previously from $6.00. Finally, analysts at Hudson Square Research downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research note to investors on Monday, December 23rd. They now have a $5.00 price target on the stock. Thirteen equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.70.

Shares of BlackBerry (NASDAQ:BBRY) opened at 8.72 on Friday. BlackBerry has a 52 week low of $5.44 and a 52 week high of $18.32. The stock’s 50-day moving average is $6.75 and its 200-day moving average is $8.56. The company’s market cap is $4.520 billion. BlackBerry also was the recipient of some unusual options trading on Tuesday. Investors purchased 113,574 call options on the company. This is an increase of 131% compared to the average volume of 49,064 call options.

BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, December 20th. The company reported ($0.67) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.43) by $0.24. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.59 billion. BlackBerry’s revenue was down 56.3% compared to the same quarter last year. On average, analysts predict that BlackBerry will post $-1.82 earnings per share for the current fiscal year.

Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.

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